COLOMBO May 29 Sri Lanka stocks closed at their
highest in more than a week on Thursday led by telecom and
financials while foreign inflows boosted sentiment with
stockbrokers saying the outlook remained positive due to lower
The main stock index ended 0.49 percent, or 31.01
points, up at 6,303.77, its highest close since May 20.
The bourse saw a net foreign inflow of 426.8 million rupees
worth of shares on Thursday, extending the year-to-date net
foreign inflow to 2.27 billion rupees.
The day's turnover was at 810.8 million rupees ($6.22
million), less than this year's daily average of 1.01 billion
Stockbrokers expect the market to gain in the near future
due to lower interest rates after the central bank kept key
rates at multi-year lows on Tuesday for the fourth straight
month, as expected.
Shares of leading fixed-line phone operator Sri Lanka
Telecom PLC rose 4.81 percent to 47.90 rupees a share,
while biggest listed lender Commercial Bank of Ceylon PLC
rose 2.86 percent to 129.60 rupees
Conglomerate John Keells Holdings PLC, which
accounted for 38 percent of the day's turnover on foreign
buying, closed 0.43 percent firmer at 234 rupees a share.
($1 = 130.4000 Sri Lanka rupees)
(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Sunil